Lord Abbett & CO. LLC decreased its holdings in PolyOne Co. (NYSE:POL) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 922,160 shares of the specialty chemicals company’s stock after selling 23,170 shares during the period. Lord Abbett & CO. LLC’s holdings in PolyOne were worth $39,210,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of POL. Wells Fargo & Company MN grew its stake in shares of PolyOne by 20.8% in the 1st quarter. Wells Fargo & Company MN now owns 2,709,264 shares of the specialty chemicals company’s stock valued at $115,198,000 after buying an additional 466,164 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of PolyOne by 45.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,000,680 shares of the specialty chemicals company’s stock valued at $42,548,000 after buying an additional 313,229 shares in the last quarter. BlackRock Inc. grew its stake in shares of PolyOne by 3.3% in the 1st quarter. BlackRock Inc. now owns 8,742,625 shares of the specialty chemicals company’s stock valued at $371,736,000 after buying an additional 277,073 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of PolyOne by 82.9% in the 4th quarter. Renaissance Technologies LLC now owns 555,458 shares of the specialty chemicals company’s stock valued at $24,162,000 after buying an additional 251,700 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in shares of PolyOne in the 4th quarter valued at approximately $10,600,000. Institutional investors own 91.95% of the company’s stock.
POL has been the subject of several recent research reports. Zacks Investment Research raised PolyOne from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Saturday, April 28th. ValuEngine cut PolyOne from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.29.
Shares of PolyOne opened at $43.08 on Friday, MarketBeat.com reports. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.61 and a beta of 1.64. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.81 and a quick ratio of 1.25. PolyOne Co. has a 12-month low of $34.15 and a 12-month high of $47.48.
PolyOne (NYSE:POL) last announced its earnings results on Thursday, April 26th. The specialty chemicals company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $870.60 million. PolyOne had a positive return on equity of 32.45% and a negative net margin of 1.73%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. equities analysts predict that PolyOne Co. will post 2.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Friday, June 15th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.70 dividend on an annualized basis and a yield of 1.62%. PolyOne’s payout ratio is currently 31.67%.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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